Category Archives: Finance/Banking

How to Calculate Taxes on IRA Income

calculating taxes on IRAs

Calculations vary with contributions and earnings In last month’s article, I wrote about the mistaken idea some people have that they earn too much to benefit from a Roth IRA.  The Tax Increase Prevention and Reconciliation Act, passed by Congress in 2005, effectively opened up a legal avenue to make contributions to a traditional IRA, and then convert all or part of the funds to a Roth. Let’s dig a…

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Don’t Think You Earn Too Much For A Roth IRA 

When Roth IRAs were created in 1997, they were an exciting new idea. They provided a way to make after-tax contributions that could, under certain conditions, grow entirely free of federal income taxes. Prior to that, traditional IRAs worked basically the other way around — you could make deductible contributions, but distributions would be fully taxable. The law also allowed taxpayers to “convert” traditional IRAs to Roth IRAs by paying…

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Millennial Investors: The "Slow and Steady" Generation

Millennial investors bring changes to investing With some $30 trillion poised to change hands over the next several decades from parents and grandparents to so-called Millennials – those 90-million-plus Americans aged 18 to 33 – the financial services industry will have its work cut out for it. Popular investing wisdom states that the younger you are, the more time you have to ride out market cycles and therefore the more…

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Public Education Commitment Earns LSNB Gold

Lone Star National Bank's Cowboy Cash visits Jensen Elementary School in McAllen

public education ranks high for Lone Star National Bank, and it earns gold Lone Star National Bank has received the State Board of Education’s Employers for Education Excellence Gold Award for 2016. This marks the first time ever a Rio Grande organization has won the award. Then bank is one of four Texas businesses recognized for for its ongoing support and commitment to Texas public education. Winners in the Gold Award category have…

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Accounting firm Long Chilton, LLP Merger

Long Chilton LLP has merged with Carr, Riggs & Ingram, LLC and will carry the CRI name.

Local accounting firm Long Chilton, LLP joins top 25 national firm Carr, Riggs & Ingram, LLC Rio Grande Valley Long Chilton, LLP has merged with the CPA and advisory firm Carr, Riggs & Ingram, LLC. Long Chilton is the largest locally owned accounting firm in the Rio Grande Valley with Brownsville, Harlingen and McAllen locations. The local offices’ workforce of 10 partners and nearly 90 professional staff members join CRI’s…

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